Most CME grain prices were higher on Wednesday. The only grain market with a decrease was March wheat, which dropped by $0.1025 and closed at $5.95/bu. March soybeans jumped by $0.035 and settled at $12.22/bu. Additionally, March soymeal increased $5.30 and closed at $368.30/st, and March corn rose $0.005 to $4.48/bu. World geopolitical issues and the Federal Reserve’s rate decision limited grain futures throughout most of the day. Wheat prices faced double-digit losses following a round of technical selling, primarily due to large global stocks and ongoing competition overseas. Soybean and corn prices showed minor gains from some late-session technical buying.
Weekly Ethanol Update
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11.11.2024
Falling biodiesel margins lead to expectations for higher RINs, lower feedstock cost
Biodiesel margins continued to fall during the week ending Friday November 8, with rising feedstock cost pushing the soybean oil/heating oil (BOHO) spread to its highest level in more...
11.11.2024
DCO starts the week higher; hog slaughter increases slightly
Distillers’ corn oil (DCO) traded higher out of the FOB Midwest markets on Monday November 11 in what was otherwise a quiet market to start the week.
A...
11.11.2024
US cattle slaughter continues to fall behind 2023 levels
Trading was quiet in the US animal protein market on Monday November 11, with no price changes reported.
Cattle slaughter
Fastmarkets’ research team forecasts cattle slaughter at 625,000...